12 April 2017
London
Reporter: Mark Dugdale

ISLA allays MiFID II concern


The International Securities Lending Association (ISLA) has reassured members over the timing of transactions reporting under the second Markets in Financial Instruments Directive (MiFID II)

ISLA members had expressed particular concerns over the timing of reporting transactions with EU central banks, and whether they would be expected from the implementation date of MiFID II.

But ISLA clarified on 4 April, following publication of the MiFID II transaction reporting standards: “The reporting of transactions with EU central banks is not expected from the implementation date of MiFID II (3 January 2018), but is aligned with the start of Securities Financing Transactions Regulation (SFTR) reporting requirements.”

ISLA is planning to publish a briefing paper on the direct impacts of MiFID II on securities finance transactions soon.

The European Securities and Markets Authority (ESMA) issued its final standards for implementing SFTR on the same day.

ESMA’s final standards provide detailed provisions on a range of issues, including the use of ISO 20022 methodology for reporting, validation and access to data, the use of standardised identifiers such as LEI, UTI and ISIN, defined access levels for different public authorities, and the registration and extension of registration of trade repositories.

More regulation news
The latest news from Securities Lending Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
SEC launches new 2018 disclosure forms
15 August 2017 | Washington DC | Reporter: Drew Nicol
New securities lending disclosure forms Forms N-1A, N-3 and N‑CSR are now in play for open-end and closed-end funds in the US, as of 1 August
DC Circuit orders review of OCC’s capital plan
10 August 2017 | Chicago | Reporter: Drew Nicol
The US Court of Appeals for the DC Circuit has called on the US SEC to reconsider its premature acceptance of OCC’s amended capital plan
Electronic repo trading on the rise, says Bruni
04 August 2017 | New York | Reporter: Jenna Lomax
“Many factors” — but particularly the new margin requirements for over-the-counter (OTC) derivatives—are driving the trend
ISLA welcomes asset segregation opinion
02 August 2017 | London | Reporter: Mark Dugdale
The International Securities Lending Association has welcomed an opinion that will clarify asset segregation and the application of depository rules to central securities depositories
FDIC tells firms to prepare for T+2
31 July 2017 | Washington DC | Reporter: Mark Dugdale
US financial services firms should take appropriate steps to ensure they are prepared for the move to T+2 settlement on 5 September
US regulators to work together on Volcker Rule
28 July 2017 | Washington DC | Reporter: Stephanie Palmer
Five US federal financial regulatory agencies are coordinating the efforts to review the regulatory treatment of certain foreign funds under Section 619 of the Dodd-Frank Act, better known as the Volcker Rule
BoE refines margin liquidity risk assessment proposals
18 July 2017 | London | Reporter: Drew Nicol
Securities financing margin liquidity risk assessments should be based on historical margin posted, with a stress uplift applied, according to the Bank of England’s Prudential Regulation Authority